Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Provisions Included In The Consolidated Statements Of Income

The income tax provisions included in the consolidated statements of income are summarized as follows:

(In thousands)	Year Ended December 31
	2012		2011		2010
Current expense:
Federal	$	37,623	$	23,341	$	24,904
State		914		518		971
Deferred expense (benefit):
Federal and State		337		10,907		6,582
Total income taxes	$	38,874	$	34,766	$	32,457

Reconciliation Of Income Tax Expense To The Amount Computed By Applying The Statutory Federal Income Tax Rate

The following is a reconciliation of income tax expense to the amount computed by applying the statutory federal income tax rate to income before income taxes.

	Year Ended December 31
(Dollars in thousands)	2012				2011				2010
	Amount		%		Amount		%		Amount		%
Tax on income before taxes at statutory federal rate	$	42,519		35.0%	$	38,632		35.0%	$	36,542		35.0%
Plus: State income taxes net of federal tax benefits		594		0.5		336		0.3		631		0.6
		43,113		35.5		38,968		35.3		37,173		35.6
Increase (decrease) resulting from:
Tax-exempt interest income		(4,127)		(3.4)		(4,226)		(3.8)		(3,711)		(3.6)
Tax reserve adjustment		293		0.2		777		0.7		(718)		(0.7)
Other items-net		(405)		(0.3)		(753)		(0.7)		(287)		(0.3)
Income taxes	$	38,874		32.0%	$	34,766		31.5%	$	32,457		31.0%

Components Of United's Deferred Tax Assets And Liabilities

Significant components of United’s deferred tax assets and liabilities (included in other assets in the Consolidated Balance Sheets) at December 31, 2012 and 2011 are as follows:

(In thousands)	2012		2011
Deferred tax assets:
Allowance for credit losses	$	41,853	$	41,979
Other accrued liabilities		29		30
Unrecognized components of net periodic pension costs		21,696		19,480
Unrealized loss on securities available for sale		16,703		19,492
Net operating loss		846		3,113
Total deferred tax assets		81,127		84,094
Deferred tax liabilities:
Purchase accounting intangibles		6,436		7,230
Deferred mortgage points		377		1,039
Accrued benefits payable		10,961		12,587
Premises and equipment		857		1,351
Other		2,764		1,723
Total deferred tax liabilities		21,395		23,930
Net deferred tax assets	$	59,732	$	60,164

Reconciliation Of The Total Amounts Of Unrecognized Tax Benefits

Below is a reconciliation of the total amounts of unrecognized tax benefits:

	December 31
(In thousands)	2012		2011
Unrecognized tax benefits at beginning of year		$ 2,028		$    971
Increases in unrecognized tax benefits as a result of tax positions settled during the current period		226		167
Increase in unrecognized tax benefits as a result of an acquisition		0		1,230
Decreases in the unrecognized tax benefits as a result of a lapse of the applicable statute of limitations		(148)		(340)
Unrecognized tax benefits at end of year		$ 2,106		$ 2,028